Healthcare technologies company Semler Scientific has added more Bitcoin to its corporate treasury, joining a growing list of companies hoarding the asset this year.
Semler bought 303 Bitcoin at an average price of $96,779 from November 25 to December 4, according to a statement on Wednesday.
“We are very pleased to report BTC Yield of 78.7%,” Company Chairman Eric Semler said in the statement.
The Santa Clara, California-based firm now boasts holdings of 1,873 Bitcoin, valued at more than $189 million at current prices.
Semler has periodically added to its holdings throughout the year, most recently purchasing 215 Bitcoin in early November.
Its treasury stash of 1,873 BTC places it 14th among publicly traded companies, according to Bitcoin Treasuries data gathered by BitBo.
Semler issues shares of common stock to purchase Bitcoin, tracking the ratio of its Bitcoin holdings to those shares via a recently adopted key performance indicator it calls “BTC Yield.”
The company first adopted its Bitcoin treasury strategy back in May, when the company said it believed Bitcoin had “the potential to generate outsized returns as it gains increasing acceptance as digital gold”—a comparison that made headlines on Wednesday when echoed by Federal Reserve Chair Jerome Powell.
The move follows several companies pursuing similar strategies.
MicroStrategy, which owns more than $40 billion worth of Bitcoin, uses the BTC Yield indicator—a key performance metric that measures the percentage change over time in the ratio of the company’s total Bitcoin holdings to its assumed diluted outstanding shares.
Japan’s Metaplanet has also been actively buying up the asset, more than doubling its Bitcoin while the value of its holdings has soared amid a renewed bull market.
Semler Scientific (SMLR) trades on the NASDAQ stock exchange and is up nearly 33% on the year. The stock finished the day down nearly 7.6% at a price of $58.55.
